After a meeting with Executive Chairman Michael Saylor, Cantor said stabilizing the preferred stock is central to resuming Bitcoin purchases and improving the company’s capital structure.
Strategy is focused on lifting preferred stock STRC back to its $100 par value, a step Cantor described as the company’s top priority after a meeting with Executive Chairman Michael Saylor. Cantor said that effort is key to restarting Bitcoin purchases and strengthening the company’s broader capital structure. STRC traded around $87.79, while Strategy shares fell 3.4% to $97.34 and bitcoin was near $61,800. The firm may continue building cash reserves for STRC dividends and could also deploy buybacks if needed. Strategy previously sold about $216 million of bitcoin to fund STRC dividend payments, a practice JPMorgan said last week could increase risk exposure and volatility.